jayy

ADX Trend Strength Leaf_West style

1128 5 221
This is a slightly different way of plotting ADX used by Leaf_West at http://tradingwithleafwest.net/. The criteria for plotting this version of ADX are described in the Educational Info pdfs on the Website.
This is my attempt to replicate Leaf_West's presentation of ADX.
Use of the indicator is described in detail in the Educational info pdfs: http://tradingwithleafwest.net/.
I have used ADX(8) and DMI             (9) for a best fit.. Leaf's methods evolve as time goes on and
The BATS data feed has the usual issues affecting the plots, a realtime data feed is the way to go. Credit for the original ADX and DMI             script goes to Greeny
Remove from Favorite Scripts Add to Favorite Scripts
// This is a different way of plotting ADX used by Leaf_West at http://tradingwithleafwest.net/.  
// The criteria for plotting ADX are described in the educational info.  
// This is my attempt to replicate Leaf_West's indicator.
// The BATS data feed has the usual issues.  Realtime data is the way to go.
// Credit for the original ADX and DMI script goes to Greeny


study("Trend Strength/ADX Leaf_West style", shorttitle=" Trend Strength ADX LW")
LWadxlength = input(8, title="ADX period")
LWdilength = input(9, title="DMI Length")

dirmov(len) =>
	up = change(high)
	down = -change(low)
	truerange = rma(tr, len)
	plus = fixnan(100 * rma(up > down and up > 0 ? up : 0, len) / truerange)
	minus = fixnan(100 * rma(down > up and down > 0 ? down : 0, len) / truerange)
	[plus, minus]

adx(LWdilength, LWadxlength) => 
	[plus, minus] = dirmov(LWdilength)
	sum = plus + minus
	adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), LWadxlength)
	[adx, plus, minus]

[ADX, up, down] = adx(LWdilength, LWadxlength)
LWADX= (ADX-15)*2.5
adxcolor= up>down?green: red
plot(LWADX, color=adxcolor, title="Trend Strength")
plot (LWADX, color=adxcolor , style= histogram, linewidth= 4)

plot(0, color=black, title="Chop Zone")
plot(20, color=green, title="Mendoza Line", linewidth=1)
plot(100, color=red, title=" Extreme Zone", linewidth=1)
Jayy
jackvmk
2 years ago
i read his blog and it is look like powerful indicator. thanks for adding it. your adx and dmi settings are really good fit too.
+1 Reply
jayy PRO jackvmk
2 years ago
Thank you. It does seem to be a useful way to plot ADX.
+2 Reply
jayy PRO
7 months ago
Leaf West's website has shut down. He has switched to commenting/educating through Twitter. His educational PDfs are no longer available. I do have some his pdfs if you are interested in reading how Leaf_West intended to use his indicators message me. I can easily send the info via email. I am sure there are other ways available too.
Reply
jayy PRO
2 months ago
Message me if you want Leaf WestPdfs. I can give you a dropbox link for downloading the info
Reply
jayy PRO
2 months ago
Leaf_West's current blog site is http://charts-by-leaf.com/. Please visit his site to download current educational material and read his analysis. Leaf's has detailed and insightful analysis, his ideas continually evolve (although the tried and true ideas remain the same). I recommend following his site and reading his blogs to add a new dimension to your technical analysis. I will update or add to my Leaf_West scripts if I see something new that I think I can do justice to. I have attempted to replicate several of his scripts to make it easier to follow his thinking and to see for yourself how the ideas work in your own analysis.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out